Sunday 31 May 2020

Dutch princess closes down tax haven trust fund

Photo: Depositphotos.com

Photo: Depositphotos.com

The former Dutch queen’s sister has closed down a trust fund based on the British tax haven of Guernsey, the Volkskrant reports on Wednesday.

Princess Christina, who is the sister of princess Beatrix but renounced her rights to the throne when she became a Catholic, is said to have inherited tens of millions of euros from her parents, queen mother Juliana and prince Bernhard.

The princess lives in London and set up the Protector Daffodil Trust 10 years ago to avoid having to pay British taxes. The trust was managed from Paleis Noordeinde, the royal household’s work palace in The Hague.

The state information service RVD declined to comment on why the trust has been closed down.

The Volkskrant did not say if the princess’s second Guernsey trust fund, known as crocus, still exists.

Although the Guernsey trust is not illegal in itself, MPs said at the time Christina should act as a role model. ‘She should not be looking for financial loopholes to avoid paying the full amount of tax,’ Labour MP Diederik Samsom, who is now party leader, said.

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